Glow Beauty Bar Leases 4,215 SF Retail Space At 54-56 West Main Street In Somerville With Tenants's Rep Of Chandler Vanderbeek & Connor Vanderbeek From Bussel Realty
54 West Main Street & 56 West Main Street
Building Size
8,430 SF
Asset Type
Retail
Closing
Dec 13, 2023
AI
A lease has been brokered for the property located at 54-56 West Main Street in Somerville. The retail space spans 4,215 square feet and is owned by Gaston Partners. Situated near the Somerset County Courthouse and various amenities, this downtown property offers convenient access and visibility. Glow Beauty Bar is set to open in January.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Square Footage: 4,215
- Address: 54-56 West Main Street
- Market: Somerville
Bussel Realty Corp. represented Glow Beauty Bar, with Maria Barzallo as the tenant. Chandler Vanderbeek and Connor Vanderbeek, from Bussel Realty, acted as the tenant's representatives in the lease. NAI DiLeo Bram & Co. represented Gaston Partners, the landlord of the property.
Players
Somerville Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93